Administrative Options

Financial Reports and Club Spending

We create monthly financial reports to illustrate how our club's funds are spent to help our members and our club grow. They are availablehere for your viewing pleasure.

Club Spending

Accounts

UW-MUN has three accounts that your money goes to. There is the general fund, which most conference, party, or merchandise costs are paid to and paid with to attend the conference. There is also the scholarship account and has money added to it from donations or when the club decides that there needs to be more money available. Lastly, there is the member credit account, where money is removed or added from the general fund, depending upon your personal use of those that have member credit with the club. All these accounts are unassociated with WASMUN finances.

Use of Money

When you pay for a conference, your money goes toward to almost all expenses of the conference, with the exception of leisure activities, food, plane tickets, and in-city transport. A good representation of what would be part of the cost of a conference would be

Delegation fee (for example, $100)

Delegate fee (for example, $50 per delegate)

Driving or train expenses (gas refunds for the drivers, often delegates themselves) (for example, $88.92 per car on average with usually 5 people per car)

Lodging (For example, $127 per room, per night, with usually 4 to 5 people per room)

Fees for the social (For example, $5)

A surcharge, in case some extra expenses occur (such as the discount hotel prices for the conference running out and having to pay full price or less delegates attending then we paid delegate fees for) (example: $6)

Any taxes

All of these amounts depend by conference, and often a few of these costs may not even be relevant to the conference and other costs may be. Specific case-by-case scenarios can be explained once planning for the conference has begun.

Each time we prepare for a conference, we must budget for a certain number of delegates. If we estimate more will attend than we expect, we would not be able to cover the full cost of group payments, such as the delegation fee (which remains the same no matter the size of the delegation) and will have a net loss from the conference. If we estimate that fewer delegates will attend, we will have a net profit. This profit keeps money in the general fund (see “accounts”) in case of unexpected charges and money that we can move into the scholarship fund. Another source of income is through the transaction fee with the square reader. Square only charges 2.75%, but we add the .25%.

Conferences

In this section we will present the breakdown of costs for each conference this year. If you have any questions or concerns, please email Milica Milovanovic at operations@uw-mun.org, and she will answer as soon as possible.

Note: The $2 is based on 30 delegates predicted to attend the conference.

Total cost: $57.00

Note: All delegates initially paid $62.00 due to the fact that we were unsure of what the delegate social fee would be. When we were informed of the true price of the delegate social, we returned the $5.00 in the form of member credit for all of those who paid the $62.00 initial price.

ENDING expenses and profits for UW-MUN:

Total delegate payments to UW-MUN: $3,034.08

Total UW-MUN payments to conference: $3,075.00

Net for UW-MUN for general fund: -$40.92

Note: Losses due to UW-MUN paying initially for 55 delegates to attend, but only finding 53 delegates to attend

UBCMUN (January 8-10, 2016)

The numbers below are approximations and estimates according to conversion rates and time of budget made, gas prices, and records from past attendance of UBCMUN

CHOMUN (April 21-24, 2016)

Breakdown of price for entire delegation (Cost based on 10 delegates paid for, but only 9 delegates attended.These are only estimates for the social fee and the hotels. The hotel may have a higher tax per night, per room, and there may not be a social fee added on. These numbers will be adjusted accordingly.)